47-21-31. Articles of consolidation as governing consolidated cooperative--Articles of surviving cooperative as governing merged cooperative. In the case of consolidation the existence of the consolidating cooperatives shall cease and the articles of consolidation shall be deemed to be the articles of incorporation of the new cooperative; and in the case of a merger the separate existence of the merging cooperatives shall cease and the articles of incorporation of the surviving cooperative shall be deemed to be amended to the extent, if any, that changes therein are provided for in the articles of merger.
Source: SL 1947, ch 33, § 19; SDC Supp 1960, § 11.2219 (1).
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